Layer
sliced oranges and
maraschino cherries in a 10-inch Bundt pan. Cover with 3 to 4 cups of
water and freeze until completely set. Run cold water over the Bundt pan to help release the ice ring. Place in the bottom of your serving bowl and top with punch.

If you're serving adults, stir in some bourbon, gin or vodka for a spiked refreshment (they'll still love the ice ring!).